Billionaire Duke of Westminster to Sell £700 Million of US Real Estate Assets

Billionaire Duke of Westminster to Sell £700 Million of US Real Estate Assets

(Bloomberg) — Grosvenor Group Holdings Ltd., the centuries-old British property group owned by the billionaire Duke of Westminster, plans to sell its direct US real estate holdings valued at about £700 million ($954 million) as it pivots toward indirect investments in the region.

Grosvenor estate: Ministers don't get 'basic economics'

The Duke of Westminster’s multi-billion pound estate has chided ministers for failing to grasp “basic economics” in their bid to tackle the housing crisis. Mark Preston, who represents the business interests of Hugh Grosvenor, the seventh Duke of Westminster and owner of a Mayfair property empire, said the government risks choking housing supply if it “interferes” with demand. The government’s pledge to build 1.5m homes by the next general elect…